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March 06, 2023
After closing the previous trading day at $16.06, JBG SMITH is up to $16.6, which makes for a move of 3.36%/54 cents today.
At the same time, United States Factory Orders released today at 15:00 UTC is better than expected at -1.6% but down from preceding data of 1.7% according to new data.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored.
Overall, looking at the technical analysis landscape, it seems JBG SMITH is likely to reverse course and start pointing down in the short term.
A look at other real estate stocks also shows bullish price action as ProLogis gained 0.59%, currently at $127.7.
Furthermore, the market is looking at United States Fed Chair Powell testimony will be released tomorrow at 15:00 UTC. United States EIA Short-Term Energy Outlook is expected tomorrow at 17:00 UTC.
Pointing downwards for around a month. This year has been a gloomy one for the US REIT after trading as high as $29.96 and going on to lose 15.21% of its value.
